PY 2025 Pennie Individual Marketplace Training for New Agents and Brokers Practice Test

When a customer omits cash income from a financial application, the appropriate course of action is to ensure compliance with reporting requirements, which is critical in the context of the health insurance marketplace. Accurate reporting of income is essential for determining eligibility for subsidies and ensuring individuals receive the correct financial assistance. Omitting income could lead to potential fraud, resulting in the customer receiving benefits they do not qualify for, which could have serious legal implications.

Submitting the application with accurate income, including cash income, is necessary to maintain integrity in the marketplace. Reporting the omission to Pennie and relevant authorities safeguards not only the integrity of the system but also helps protect consumers from potential legal repercussions they could face down the line for inaccuracies in their application. This approach reinforces the importance of transparent and truthful disclosures in financial applications, which ultimately benefits both the individual and the marketplace as a whole.